The most common crypto scams
| Scam | How it works | Warning sign |
|---|---|---|
| Fake trading platform | A professional-looking site shows growing profits that cannot be withdrawn | Fees or "taxes" demanded before withdrawal |
| Romance or "pig butchering" | A long online relationship leads to an "investment opportunity" | Someone you never met pushes a platform |
| Fake support | A "support agent" asks for codes, remote access or a transfer to a "safe wallet" | Unsolicited contact about your account |
| Phishing | A copy of an exchange's login page steals your credentials | Links in emails, texts or ads |
| Giveaway | "Send 1, get 2 back", often with a fake celebrity | Any promise to multiply crypto |
| Fake app or wallet | A copied app steals recovery phrases | Not installed from the official link |
| Recovery scam | Offers to recover lost funds for a fee | Contact after you lost money |
Warning signs shared by crypto scams
- High or guaranteed returns.
- Pressure to act fast or keep it secret.
- Requests for recovery phrases, codes or remote access.
- Payments to personal accounts or wallet addresses.
- A firm you cannot find in the ESMA register.
The scam check turns these signs into ten questions.
Crypto scams and the ESMA register
Since 1 July 2026, crypto-asset services in the EU require a MiCA authorisation, so a platform you cannot find in ESMA's register is a serious warning sign.
ESMA's non-compliant entities file also lists sites with names that resemble well-known brands, such as "HTXcoin-az" reported by Italy's CONSOB.
The guide to regulator warning lists explains how to search.
If you are targeted by crypto scams
- Stop: send nothing more, even to "unlock" funds.
- Cut access: remove remote-access software and change passwords from a clean device.
- Call your bank if you paid by bank transfer or card.
- Keep evidence: messages, addresses, transaction IDs.
- Report it, as the guide to reporting a crypto scam explains.
Crypto scams: romance and "pig butchering" in detail
These scams often start with a wrong-number message, a social media contact or a dating match, and they can run for weeks before money is mentioned.
- Friendship or romance is built with daily messages.
- Success stories about crypto trading appear casually.
- An offer to teach you leads to a professional-looking platform.
- Small deposits show large gains, sometimes with a small successful withdrawal.
- Larger deposits are encouraged, often with time pressure.
- Withdrawals are blocked until you pay a "tax" or "fee".
Never invest through a platform introduced by someone you have only met online, however long you have known them.
Crypto scams: fake support in detail
Fake support scams target people who already use a real exchange.
- A call or message warns of a "suspicious login" or "frozen account".
- The caller knows your name and perhaps your exchange.
- You are asked to install an app, share a code or move funds to a "safe wallet".
Real exchanges do not ask you to move funds for safety; hang up and open the exchange yourself through a bookmark.
Crypto scams: impersonation of authorities
Some scammers pose as police, regulators or bank staff and claim your money is at risk.
They may ask you to buy crypto and send it somewhere "for protection".
No authority asks you to do this, and the request alone proves it is a scam.
Crypto scams: signs in the platform itself
| Sign | Why it is suspicious |
|---|---|
| Steady, high profits every day | Real markets do not behave that way |
| Support only through chat apps | Authorised firms use official channels |
| Deposits to personal wallets or accounts | Authorised firms receive funds in their own accounts |
| No legal entity in the terms | Nobody you can hold responsible |
| Not in ESMA's register | Not authorised to provide crypto services in the EU |
Crypto scams and shame
Many victims feel ashamed and delay reporting, which helps scammers continue.
Scams are crimes committed by organised groups using refined techniques, and reporting quickly helps both you and others.
Crypto scams: giveaways and fake endorsements
Giveaway scams promise to double any crypto you send, often using a fake video or post from a well-known person.
Fake endorsement ads use celebrities' faces and invented news articles to promote trading platforms.
- No one gives away crypto in return for a payment.
- Celebrities rarely endorse crypto platforms, and fake endorsements are common.
- News articles about "secret" investment methods are often fakes built to look like real media.
Crypto scams: phishing and fake apps
Phishing copies an exchange's login page; fake apps copy a wallet or exchange app.
Both aim to capture passwords, codes or recovery phrases.
Bookmarks for exchanges, official store links for apps and a refusal to type a recovery phrase anywhere except your own wallet restore cover most of the risk.
Crypto scams: "pump and dump" and fake tokens
In a pump and dump, promoters buy a small token, hype it in chat groups and social media, and sell when others rush in.
Fake tokens use the name of a famous project but are separate tokens with no value.
Buying only on authorised exchanges, and checking that the token is the genuine one listed there, reduces both risks.
Crypto scams: job and task scams
Some scams start with an online job offer for simple tasks, such as liking videos or rating products.
After small payouts, the victim is asked to deposit crypto to unlock larger tasks or earnings, which are never paid.
A job that requires you to pay or deposit money is not a job.
Crypto scams: a protective routine
- Pause: wait 48 hours before acting on any investment offer.
- Check: search the firm in the ESMA register.
- Ask: talk to someone you trust who is not involved.
- Test: run the scam check.
- Decide: if any red flag remains, walk away.
Crypto scams: who is targeted
Anyone can be targeted, but scammers often focus on people who are new to crypto, lonely, under financial pressure or recently bereaved.
Older people are often targeted with impersonation of banks or police, and younger people with job offers, influencer promotions and trading groups.
Knowing the patterns aimed at your age group and situation is a good protection.
Crypto scams: quick reference
| If someone… | It is likely… |
|---|---|
| promises guaranteed returns | an investment scam |
| asks for your recovery phrase | a wallet theft attempt |
| asks you to install remote-access software | an account takeover attempt |
| demands a fee to withdraw | a fake platform |
| offers to recover lost funds for a fee | a recovery scam |
| poses as police and asks you to move money | an impersonation scam |
When any of these happens, stop, check and talk to someone before doing anything else.
Crypto scams: what makes a platform look real
Scam platforms invest in looking genuine: professional design, live price charts, a support chat, a licence number and testimonials.
None of these is hard to fake, and many are copied from real exchanges.
What a scam platform cannot fake is an entry in ESMA's register with its own website, and a withdrawal that works under published terms without extra payments.
Testing a small withdrawal early, and checking the register before any deposit, removes most of the illusion.
Crypto scams: if a friend recommends a platform
Scams often spread through people who genuinely believe they have found something good, because they have seen fake profits on the screen.
A friend's recommendation is not a check: ask whether they have withdrawn more than they put in, and look the platform up in the register together.
Crypto scams: the three questions that stop most of them
- Did I find this myself, or did someone bring it to me?
- Is the firm in ESMA's register, with the same website?
- Can I withdraw under published terms, without paying anything extra?
If the answers are "someone brought it", "no" or "no", stop.
Those three questions do not need any technical knowledge, and they catch the great majority of investment scams before money is lost.
More on crypto scams and related safety tools
Safety works best as a set of habits, and each guide and tool below covers a different part of the picture around crypto scams.
Use them together: check the firm, check the offer, secure your account and know what to do if something goes wrong.
Frequently asked questions
What are the most common crypto scams?
Fake trading platforms, romance scams, fake support, phishing, giveaways, fake apps and recovery scams.
How can I tell if a crypto platform is a scam?
Check the ESMA register, be wary of guaranteed returns and pressure, and never pay fees to withdraw.
Can I get my money back after crypto scams?
Sometimes, if you act quickly through your bank or the police, but crypto transfers are hard to reverse. Beware of paid "recovery" offers.
Why do scammers ask for crypto?
Crypto transfers are fast, hard to reverse and can cross borders easily.
Does MiCA stop crypto scams?
It regulates authorised firms; scams usually operate outside the regulated system, which is why checking the register matters.
Every figure on this page is checked against the ESMA register, the exchange's own terms and fee pages or another primary source, and the sources are listed above. Editorial policy · How we rate